Islamabad, March 4, 2019: The tension between Pakistan and India since Pulwama attack on Feb 14, is resulted in massive losses to the India’s economy.
Pakistan and India are facing economic difficulties because of prevailing tension, however, it revealed that major losses is being suffered by India.
Major loss to the India during this conflict was loss of two Indian Air Force jet planes crashed by Pakistan Air Force on Feb 28, 2019 on boarder violation.
The only loss due to these two jets is about 50 million US dollar equal to Rs 7 billion. While, other loss to economy is also much higher than this loss as Pakistan has stopped imports from the India.
Trade balance between Pakistan and India is in favor of India as Pakistan’s imports are higher than exports. Pakistan imports from India stood at $1.8 billion from India during FY19 compared to exports of $419 million in same period of last fiscal year, depicting a favorable trade balance of $1.3 billion for India.
It is being estimated that, with recent restrictions, Indian exports to Pakistan may decline, if the situation not improved and restrictions not lifted.
Following are some estimates of loss to India.
1: SU-30M IU-30MKI
Estimated cost: $25 million each
According to Pakistan currency: Rs 3.49 billion
2: MG 21FL MiG-21FL
Estimated cost: $25 million each
According to Pakistanis currency: Rs 3.49 billion
Both of them were costs about Rs 7 billion.
And this loss was due to JF-17, a joint venture of Pakistan and China. JF-17, which is made in comparison to the F-16 Falcon, JF-17 Thunder has the advanced technology of 4th Generation. Besides airstrike, JF-17 have capability to attack its target on ground and even in water.
Pak-China plans to build these aircrafts when the United States refused to deliver booked F-16 to Pakistan.
Economic loss to the Indian Economy is being estimated but it is much higher than Pakistan. On exports level Indian exports suffered loss of over $100 million.
